AUDJPY Advances Towards Major Resistance Level

AUDJPY is currently riding its second bullish wave of the year. Although the market briefly stalled at the beginning of the second half, bullish momentum quickly returned. As a result, the pair is now steadily climbing toward the significant resistance level at 102.390.

Demand Levels: 98.590, 97.320

Supply Levels: 102.390, 108.160

The first bullish wave earlier in the year revealed strong buyer dominance. The Elder Ray Bull and Bear indicator consistently hovered above zero, confirming bullish strength. This movement aligned with the Smoothened Heikin Ashi candles, which maintained a steady series of bullish prints across the chart. Furthermore, the higher lows formed a well-defined upward trendline, reinforcing long-term optimism.

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However, July triggered a temporary pause as price consolidated sideways. This shift in structure extended into late August and briefly introduced bearish-looking candles on the Heikin Ashi chart. Yet buyers eventually regained control, launching what is now the second strong bullish wave. With price rapidly approaching 102.390, traders will remember that last November buyers failed here and sparked a bearish reversal that lasted into this year.

On the 4-hour chart, bulls continue to push upward despite periodic stop-runs, which are common in the FX market. The current structure suggests that 102.390 remains a logical upside target. Therefore, this level may serve as a prime reference for the best forex signals as traders anticipate a potential breakout.